Posted by Mark S on January 11, 2016, 8:57 am, in reply to "Re: Exchange Rates for Cash"
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I remember when Mexico went with the "Nuevo Peso" because of the problem Scott mentions.
Here's the thing. If you are an expat and built your house you paid for it based upon your savings, be it Canadian or U.S. Dollars. If you subsequently rent your house your are expecting some measure of a return on your investment, and that return is based upon the currency which you invested.
Last year the Peso was trading at 14.7 per U.S. Dollar. As of Friday it was 17.55. It makes no economic sense to base a rental rate in Pesos when one can't be sure of its value in six months.
Like it or not, the U.S. Dollar is the world standard of economic worth (who buys Chinese treasury bills valued in the Yuan?) It's not a nationalistic thing, it's just the way the world economic markets work. The world puts its faith in the U.S. Dollar due to a belief that its value is relatively stable, it's the new gold.
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